Politics

Zuma has paid-off the R7 814 155.00 Nkandla bill

The Presidency has confirmed that President Jacob Zuma has paid back the money used for all non security upgrades for his Nkandla homestead.

Presidency Spokesperson Bongani Ngqulunga said the president has paid over R7.8 million to the South African Reserved Bank.

“President Zuma has paid over the amount of R7 814 155.00 to the South African Reserve Bank as ordered by the Constitutional Court of South Africa in respect of his private homestead at Nkandla,” said Ngqulunga.

The amount paid by Zuma was recommended the National Treasury with the assistance from a panel of six experts from two quantity surveyor firms.

In March the Constitutional Court ruled that Zuma had violated the constitution by not abiding by the Public Protector’s recommendation that he should pay some of the money spent on the residence.

Treasury then recommended Zuma to pay R7.81 million rand for non-security-related features, including R2.3m for the so-called swimming pool, R1m for the amphitheatre and R1.2m for the cattle kraal.

Ngqalunga the also confirmed that the President was able to pay back Nkandla money through a home loan he acquired.

“The President raised the amount through a home loan obtained from VBS Mutual Bank on its standard terms, one of the few financial institutions which offer home loans in respect of land owned by traditional authorities,” said Ngqulunga.

 

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